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Buyer's Guide

A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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Step 1: Research

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

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Step 2: Decide on Your Budget

Notice we said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

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Step 3: Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

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Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). We will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

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Step 6: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

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Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. We can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

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Step 8: Select Your Loan

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.

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Step 9: Get a Home Appraisal

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.

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Step 10: Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams. 

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Testimonials

Read what our clients have to say about working with us.
"We chose the Dunnican Team because we wanted an experienced realtor that lived in the community where our parents' house was located. Cindy gave us great advise before we even signed with her and at every step of the process. Her estimate of our potential net was within $2500 of what we ended up depositing in our father's account. (The difference was in our favor). We are very pleased with the help the Dunnican team gave us."
"We chose the Dunnican Team because we wanted an experienced realtor that lived in the community where our parents' house was located. Cindy gave us great advise before we even signed with her and at every step of the process. Her estimate of our potential net was within $2500 of what we ended up depositing in our father's account. (The difference was in our favor). We are very pleased with the help the Dunnican team gave us."
Teresa Crawford
"The Dunnican Team has been in the field of selling homes for a long time and they have tremendous knowledge. They know the market better than anyone I’ve met and understand all the large and minor details necessary to sell a home quickly. You can’t go wrong with The Dunnican Team, amazing and talented realtors and kind and wonderful people."
"The Dunnican Team has been in the field of selling homes for a long time and they have tremendous knowledge. They know the market better than anyone I’ve met and understand all the large and minor details necessary to sell a home quickly. You can’t go wrong with The Dunnican Team, amazing and talented realtors and kind and wonderful people."
Crystal Redmond
"Cindy and her team worked tirelessly to sell my house. It took 3 contracts and a new roof and a few repairs to make it happen. I was out of state already. Every time something went south, she'd work even harder to make it better. She connected me with a fast reputable roofer. At the last moment my buyer wanted the house cleaned and Cindy's husband/work partner cleaned. She also had to find someone to mow. Cheryl also worked hard putting out fires like when my buyer's mortgage person suddenly quit. Cindy earned her money."
"Cindy and her team worked tirelessly to sell my house. It took 3 contracts and a new roof and a few repairs to make it happen. I was out of state already. Every time something went south, she'd work even harder to make it better. She connected me with a fast reputable roofer. At the last moment my buyer wanted the house cleaned and Cindy's husband/work partner cleaned. She also had to find someone to mow. Cheryl also worked hard putting out fires like when my buyer's mortgage person suddenly quit. Cindy earned her money."
Brenda Castillo
"What a blessing Cindy and her team were to our family! Cindy sold our home in no time flat due to her expertise and experience. She helped us through the process every step of the way. Thank you Cindy!!!"
"What a blessing Cindy and her team were to our family! Cindy sold our home in no time flat due to her expertise and experience. She helped us through the process every step of the way. Thank you Cindy!!!"
Crisala Smith
"If I could leave more stars, I would! Once again, Cindy and Cory have done an amazing job of helping us through the selling and buying process. Both of these processes can be so overwhelming, and it is so comforting knowing that Cindy and Cory are always just a phone call or a text away. Their knowledge and expertise on everything from market trends to color selection are spot on! Thank you guys for all of your dedication and hard work in helping us be successful in the sale and purchase of our homes. I’m not sure what we would do without you! ❤️"
"If I could leave more stars, I would! Once again, Cindy and Cory have done an amazing job of helping us through the selling and buying process. Both of these processes can be so overwhelming, and it is so comforting knowing that Cindy and Cory are always just a phone call or a text away. Their knowledge and expertise on everything from market trends to color selection are spot on! Thank you guys for all of your dedication and hard work in helping us be successful in the sale and purchase of our homes. I’m not sure what we would do without you! ❤️"
Elisa L.
"Cindy and Cory are a dream team. Every bit of the house buying process was an ease with them. Highly recommend to anyone!!"
"Cindy and Cory are a dream team. Every bit of the house buying process was an ease with them. Highly recommend to anyone!!"
Meka S.
"Cindy and her team were excellent to work with throughout the process of selling our home. Over the last few years, I have made a habit of following the real estate market in my area and consistently saw home transactions by the Dunnican Team. I decided that they must be doing something right and decided to reach out. The next day Cindy was at our house with a detailed report of the current market conditions and made an assessment of our home and what price point we should be at. We decided right away that we would be enlisting Cindy and her team with the task of selling our home. Shortly after, she had her team out to shoot photos and videos and quickly had my house on the market. She diligently followed up with each prospective buyer who viewed our home and sent weekly updates to us regarding the sales activity on our home. Once we were under contract, her expertise truly showed as she helped us navigate each phase of selling while keeping us informed of what we should expect each week until we sat at the closing table together and finalized the deal. If you are considering buying or selling a home in North Texas, I highly recommend letting Cindy get it done for you."
"Cindy and her team were excellent to work with throughout the process of selling our home. Over the last few years, I have made a habit of following the real estate market in my area and consistently saw home transactions by the Dunnican Team. I decided that they must be doing something right and decided to reach out. The next day Cindy was at our house with a detailed report of the current market conditions and made an assessment of our home and what price point we should be at. We decided right away that we would be enlisting Cindy and her team with the task of selling our home. Shortly after, she had her team out to shoot photos and videos and quickly had my house on the market. She diligently followed up with each prospective buyer who viewed our home and sent weekly updates to us regarding the sales activity on our home. Once we were under contract, her expertise truly showed as she helped us navigate each phase of selling while keeping us informed of what we should expect each week until we sat at the closing table together and finalized the deal. If you are considering buying or selling a home in North Texas, I highly recommend letting Cindy get it done for you."
Justin G.
"Cindy and Cory have helped us buy and sell our last two homes with such professionalism, personal service, and amazing communication. I don’t really know how they juggle everything with such excellence and timeliness. This last house had showings the very first day with many more over the weekend. We had a contract in a matter of days! If you are in need of a realtor who’s also your advocate, look no further."
"Cindy and Cory have helped us buy and sell our last two homes with such professionalism, personal service, and amazing communication. I don’t really know how they juggle everything with such excellence and timeliness. This last house had showings the very first day with many more over the weekend. We had a contract in a matter of days! If you are in need of a realtor who’s also your advocate, look no further."
Vicki S.
"If I could give 10 stars I would! Cindy is an amazing realtor and an absolute pleasure to work with. She has the utmost integrity and is a true professional! If you have Cindy in your corner, you are in great hands!"
"If I could give 10 stars I would! Cindy is an amazing realtor and an absolute pleasure to work with. She has the utmost integrity and is a true professional! If you have Cindy in your corner, you are in great hands!"
Derek S.
"Cindy and Cory were great to work with. She explained in depth the process for selling our home and what I liked was her open and honest approach. They did a fantastic job promoting our home and we now have a contact in a little over a month."
"Cindy and Cory were great to work with. She explained in depth the process for selling our home and what I liked was her open and honest approach. They did a fantastic job promoting our home and we now have a contact in a little over a month."
Joseph K.
"This wasn't our first "rodeo" with the Dunnicans - Cindy & Cory. They were our team when we bought the house we sold today - almost 17 years ago. Cindy is absolutely amazing and the most patient and above-board person we know. I would recommend Cindy (the Dunnican Team) to anyone in need of a realtor. Amazing people!"
"This wasn't our first "rodeo" with the Dunnicans - Cindy & Cory. They were our team when we bought the house we sold today - almost 17 years ago. Cindy is absolutely amazing and the most patient and above-board person we know. I would recommend Cindy (the Dunnican Team) to anyone in need of a realtor. Amazing people!"
Donna Harper
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